February 8, 2016 Reading Time: 2 minutes
The EU plans to require public disclosure of multinationals' accounts. Image credit - depositphotos.com
Reading Time: 2 min read
Talks on the ETCA to proceed
The Indian Foreign Minister, Sushma Swaraj, and her Sri Lankan counterpart, Hon. Mangala Samaraweera, have agreed to take forward bilateral talks on the Economic and Technology Cooperation Agreement (ETCA).
The decision was reached during the India-Sri Lanka Joint Commission held recently in Colombo.
IMF team comments on Sri Lanka’s economic growth
The International Monetary Fund (IMF) has expressed its satisfaction over Sri Lanka’s recent economic growth, although stressed that there is room for improvement, especially in managing the budget deficit.
An IMF team recently visited Sri Lanka to assess its recent economic progress and discuss future plans.
Luxury cruise liner at the Hambantota Port
The Hambantota port welcomed its largest cruise ship, MS Rotterdam, one of the world’s biggest cruise liners.
The Minister of Ports and Shipping, Arjuna Ranatunga, indicated that the arrival of the passenger liner could herald greater development and potential business opportunities.
EU proposals aim at greater transparency by MNCs
New proposals by the European Union envisage the disclosure of earnings and tax by multinational corporations for public scrutiny.
The proposed legislation, to be tabled by April, would apply to some of the largest American multinationals, including Amazon, Google, and Facebook.
Security Council condemns North Korea’s rocket launch
The United Nations Security Council condemned North Korea’s launch of a long-range rocket, and added that it will adopt a resolution with new sanctions against the move.
The North Korean state media announced yesterday that the mission was a “complete success”, and was part of a purely scientific space programme.
Aung San Suu Kyi expected to assume leadership
Talks between the Myanmar’s military chief and Aung San Suu Kyi could result in the removal of a constitutional clause that bars her from becoming president.
The talks on removing the clause, which prescribe that a spouse or parent of a foreigner cannot rule Myanmar, is expected to yield “positive results.”
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